Februaury 2009

NEWS REVIEW- – BUSINESS

Idhasoft to improve University of Pennsylvania’s tracking software

University of Pennsylvania Health System Department of pharmacy selected Idhasoft mobility division to achieve data accuracy through Customised Integrated Tracking System software solution.

The department of pharmacy dispenses approximately 2000 � 3000 doses of medication daily. As each medication is prepared for dispensing, a label is affixed to the item to identify the patient, the drug, and the unique order number, which identifies the drug order for a specific patient. At set times throughout the day technicians pick up items to be delivered for “route” and deliver them. The pharmacy needed the ability to track the medication, location, time/date stamp, and the technician picking up and delivering items within the hospital. The hospital had a wireless network running in approximately 70 percent of the hospital.

The system’s main goal was to track the delivery of pharmacy items from the pharmacy out to the secure nursing dispensing stations and provide the pharmacy with accurate data to maintain their compliance to the hospital’s policy.

Idhasoft Mobility Division created a custom software solution that interfaced with the University of Pennsylvania’s legacy SQL database.

Apollo Hospitals, Well Point sign agreement

Apollo Hospitals recently announced that it has entered into an agreement with US-based Anthem Well Point through its subsidiaries for treating patients recommended by the insurance company.

“As per the agreement, Anthem Well Point will initially send the employees of Serigraph Inc, a corporate client of Anthem Well Point, to Apollo Hospitals in India,” the hospital chain said in a statement.

Anthem Well Point will send the patients to Apollo Hospitals in Bangalore and Delhi, and later it will send to all JCI accredited hospitals of the chain, it added.

Anthem Blue Cross and Blue Shield are the subsidiaries of Anthem Well Point. Apollo will cover 700 members of the US-based group and their dependents. The Apollo group comprises a network of 43 hospitals in India and overseas with a total capacity of 9,000 beds.

CMPMedica, iSOFT sign contract for drug info decision-support tools

CMPMedica, a division of United Business Media Limited, and healthcare IT sysytems supplier iSOFT, have signed a worldwide agreement to supply iSOFT with comprehensive evidence-based drug information. CMPMedica’s information solution will power iSOFT’s suite of decision-support tools. These tools enable healthcare professionals to make better-informed decisions at the point of care and thus improve patient outcomes.

CMPMedica has provided iSOFT with drug information systems since the 1960s and the two companies have worked together to develop their respective businesses in Australia and Asia. Both companies are looking to expand their relationship into new territories around the world as demand for evidence-based decision support tools continues to grow.

GE Healthcare to acquire Indian medical cos

GE Healthcare is planning to acquire and provide seed capital to Indian medical device and diagnostic companies. The USD 17 billion healthcare company is looking at acquiring companies which either possess low cost solutions or have unique technology.

GE would target diagnostic equipment manufacturers in the local market that can complement its product portfolio and help expanding its rural network. The healthcare giant also plans to provide seed capital to Indian medical companies and pick up a majority stake in them. It expects a major chunk of its growth to come from the expansion of its imaging and infant care products range in the tier II and III cities. The company expects its sales to increase to 50% of its total revenue by 2010 by expanding in to the rural areas.

Keeping with its strategy of viewing India as a low-cost solution market, GE launched its first fully digital X-Ray system, Tejas DR-F, in India. The X-Ray system, expected to cost 40% lesser than imported digital machines, would be manufactured in India, and exported to Southeast Asia, Latin America, Russia, Eastern Europe and Africa. GE Healthcare also plans to deploy its medical imaging and diagnostics, patient monitoring systems, and biopharmaceutical manufacturing technologies in various states, under a private public partnership (PPP) model.

Vodafone invests in mobile health firm

Newbury, Berkshire-based, mobile phone giant Vodafone has invested in t+ Medical, a UK provider of mobile health services acccessed across mobile handsets.

Vodafone Ventures Ltd, the corporate venture capital arm of Vodafone Group, has made an undisclosed investment in t+ Medical, which specialises in the use of mobile phone-based transfer of patient biometric data as part of mobile healthcare services.

Spun-out of Oxford University in 2002, t+ Medical is currently involved in two of the Department of Health’s Whole System Demonstrators – large scale projects to test the benefits of telehealth services. The company is involved in the pilots in Newham and Cornwall.

The company specialises in the transfer of patient data using standard mobile phones, into which a patient either enters data or to which vital signs data is automatically relayed � using technology such as bluetooth – from a range of personal monitoring devices. The company has invested in its own dedicated medical call centre.
t+ Medical also offers a range of chronic disease management programmes � for areas including diabetes, COPD, cancer, cystic fibrosis and hypertension – customers to date had mainly been PCTs interested in “admissions management and reduction”.

The company said that providing services to 2m patients could potentially save the NHS one billion pounds a year.

Loans to hospitals no longer commercial real exposure

Loans extended by banks to hotels and hospitals may no longer be treated as commercial real exposure. The Reserve Bank of India (RBI) recently revised norms on real estate exposure where it included loans extended against security of future rent receivables from commercial real estate exposure.

The revised norms will not immediately impact banks’ balance sheet. This is because standard provisioning for real estate companies were brought on a par with all other industries on November 15, 2008.

As a part of the stimulus package, the general provisioning requirement on standard advances for commercial real estate sector has come down from 2% to 0.04%.

However, under reducing the standard provisioning for commercial real estate, RBI had said that they were counter cyclical prudential measures. This means that as and when the economic cycle changes, RBI may increase provisioning norms on commercial real estate sector.

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